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Governance

April 1, 2003

Family owners, and all major shareholders in the family business, need to understand the strategic planning process of their business to sustain the long-term value of their company

John L Ward is the Co-Director of the Center for Family Enterprises at Kellogg Graduate School of Management (USA) and the Wild Group Professor of Family Business at IMD (Switzerland). He serves on the boards of four family companies in Europe and the USA.

Randel S Carlock is Berghmans Lhoist Professor in Entrepreneurial Leadership at INSEAD (France and Singapore) and Opus Endowed Professor of Family Enterprise at St Thomas University (USA).

January 1, 2003

The FBN’s Next Generation Worldwide Meeting proved once again to be a big success, attracting over 400 participants. This year, however, delegates included not only junior family members but also senior family members wishing to learn more about the challenges that will face their offspring

Professor Randel S Carlock is the Berghmans Lhoist Chaired Professor in Entrepreneurial Leadership and Director of the Family Enterprise Challenge executive programme at INSEAD. Elizabeth Florent-Treacy is Research Project Manager at INSEAD.

The FBN's Next Generation Worldwide Meeting proved once again to be a big success, attracting over 400 participants. This year, however, delegates included not only junior family members but also senior family members wishing to learn more about the challenges that will face their offspring

January 1, 2003

Jim Waldron, CEO of Capitol Enterprises, an entertainment centre business, is struggling with his son-in-law’s increasingly difficult behaviour.

Jim Waldron, CEO of Capitol Enterprises, an entertainment centre business, is struggling with his son-in-law's increasingly difficult behaviour. Jim owns an entertainment complex with function rooms. Recently, he has expanded the facilities by buying up abutting land and expanding the building complex. At the same time, Jim is concerned about creating a succession plan and this growth has put financial pressure on him and on his plans for retirement.

January 1, 2003

September 11 caught the world by surprise. One year on, the World Trade Center isn’t the only thing being rebuilt – many family businesses have to face tough decisions on succession, sales, hiring and development

Mike O'Malley is a consultant, lecturer and executive coach. He specialises in developing solutions for the relationship problems among business members, outside stakeholders and management.

September 11 caught the world by surprise. One year on, the World Trade Center isn't the only thing being rebuilt – many family businesses have to face tough decisions on succession, sales, hiring and development

January 1, 2003

Family feuds can fester for generations and the conflict may have a disastrously destructive effect on the family and the prospects for its business. Communication and respect are the keys to avoiding damaging family conflicts

Dennis T Jaffe, PhD is professor at Saybrook Graduate School in San Francisco, author of Working With The Ones You Love, and a founding member of the Aspen Family Business Group.

Family feuds can fester for generations and the conflict may have a disastrously destructive effect on the family and the prospects for its business. Communication and respect are the keys to avoiding damaging family conflicts

January 1, 2003

In family-owned businesses, ownership is uniquely important and influential to the system of governance, where its values and vision are crucial elements in the financial success of the company

John L Ward is co-director of the Center for Family Enterprises at Kellogg School of Management (USA) and the Wild Group Professor of Family Business at IMD (Switzerland). He serves on the boards of four family companies in Europe and the US.

In family-owned businesses, ownership is uniquely important and influential to the system of governance, where its values and vision are crucial elements in the financial success of the company

January 1, 2003

Good corporate governance should extend to all areas of a family business, including its philanthropic ventures

Robert R Patterson is a member of FBN in Lausanne and is a Principal of ASC Advisory Group, Charlottesville, Virginia, USA.

Note: The article is based on several real-life cases, but names have been changed.

Good corporate governance should extend to all areas of a family business, including its philanthropic ventures

January 1, 2003

Family wealth brings with it responsibility and children should be comfortable with financial issues from the most basic to the most sophisticated. To this end, an increasing number of family offices are focusing on the need to educate younger family members in the care and management of the family fortune

Ian Youngman is a freelance writer based in
the UK.

Family wealth brings with it responsibility and children should be comfortable with financial issues from the most basic to the most sophisticated. To this end, an increasing number of family offices are focusing on the need to educate younger family members in the care and management of the family fortune

January 1, 2003

Many next generation people face the tough decision of whether to join or stay in the family business – and the FBN conference addressed ways of approaching this dilemma

Barbara Murray is Consultant Editor of Families in Business magazine.

Many next generation people face the tough decision of whether to join or stay in the family business – and the FBN conference addressed ways of approaching this dilemma

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